Wednesday, April 05, 2006

What is philosophy? Well, apparently its a perfume: yup

What is evil? Its a credit card offer I got in the mail from something called 'Upfront Rewards'. Absolutely positively evil. They are giving away a free laptop*.

Yeay! free laptop!

[EVIL!!!]



* You must transfer $5,000 balance to the credit card and you must maintain a minimum balance of $3,500 for 18 months. If during the 18 months your balance drops below $3,500 you will be assessed a one-time $600 penalty.

4 Comments:

Anonymous Olga said...

philosophy isn't just a perfume, it is a whole line of spectacular beauty products that will leave your face looking young and fresh.

...working on my marketing.

8:06 PM  
Blogger E$ said...

What's the APR on the credit card?
If it's in the traditional range of 20%, then it's definitely a great offer!*

Also, what kind of laptop are they giving away?



*for the mathematically alternatively gifted

11:26 AM  
Blogger Bubba said...

Olga, good job. You forgot to mention that philosophy also makes you feel younger and ....

Its not just about how it makes you look. Its about how it makes you feel.

=============

Its roughly a $500 laptop. The APR is 10%. In 6 months it goes up to 11.5%. So:
(3500*.1)/2 = $175 for 6 months
(3500*.115) = $400 for 1 year.

+ initial cost for transferring in $5000, and considering that $3500 is the minimum for 18 months...
= at least $650 / customer


So I guess if you want to get a cheap laptop and a cheap interest rate on your card it isn't that bad of a deal. The laptop is definately not free though....

7:19 PM  
Blogger E$ said...

Most Americans with credit cards are retarded enough to already carry a balance. So for them, unfortunately, it's practically free.

6:39 AM  

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